Your friend just know about Bitcoin and said he just invested into cloud mining.

[Dudeperfect]

Well, instead of friend it was me who was trying to go with cloud mining. I have cancelled my plan because I was and am complete noob in mining and there is no point if I’m entering in cloud mining without proper knowledge. I asked about it before investing in cloud mining here on bitcointalk and I was told to stay away from cloud mining because various reasons.

I would do the same if any of my friend is going is same direction.

[pooya87]

Well, instead of friend it was me who was trying to go with cloud mining. I have cancelled my plan because I was and am complete noob in mining and there is no point if I’m entering in cloud mining without proper knowledge. I asked about it before investing in cloud mining here on bitcointalk and I was told to stay away from cloud mining because various reasons.

I would do the same if any of my friend is going is same direction.

that is the point OP is trying to make, you should try to tell other people especially if they are your friends that investing in a cloudmining is not such a good idea.

and if you could, you should always give them links about their scam accusations and the scam topics that you can find so they believe you easier and prevent them from possible big losses.

[Kakmakr]

I think I would direct him to this site, http://www.badbitcoin.org/ and ask him to count the amount of sites connected to cloud mining/Ponzi schemes and see if he is still interested in investing with these types of sites. Some people will not take your word for it, so you have to come up with some evidence to prove your point. I have learned the hard way, with telling friends about something their kids did, and even if it was true, they still did not want to believe it, until I brought the proof and now they are left with the red faces. ^hmmmm^

[Senor.Bla]

I think I would direct him to this site, http://www.badbitcoin.org/ and ask him to count the amount of sites connected to cloud mining/Ponzi schemes and see if he is still interested in investing with these types of sites. Some people will not take your word for it, so you have to come up with some evidence to prove your point. I have learned the hard way, with telling friends about something their kids did, and even if it was true, they still did not want to believe it, until I brought the proof and now they are left with the red faces. ^hmmmm^

thank you for the site, i will add this. also i think your experience describes how 90% of this cases go down. sometimes even with the evidence they still do not believe you. it depends on the people you are dealing with, but in most cases i do not argue anymore if i have presented the prov and they still wont believe me. then i just wait till they come back crying.

[Xester]

Well he ask for my opinion then I would say things that I know with cloud mining.  Tell him the risk factors of joining those investments and show some pictures or articles for some legal basis.  I will warn him and advise him to be careful with all the investment sites as some were scam.  As a friend I will be really concern with him. 

[kryptqnick]

I must admit that I didn't know about scamming in cloud mining before I read other replies on this post. If a friend of mine decided to invest money in such a thing, I'll mention some unpleasant situations he might face and will ask him to read some information on this website: https://www.weusecoins.com/avoid-bitcoin-cloud-mining-scams/. And yet it is his money and every business involves a great risk, so let it be his way.
By the way, aren't there famous cloud mining companies people trust? I mean, companies which passed the test of time?

[lienfaye]

I will stop him investing in cloud mining if he is my friend, i dont have to wait to lost his money before i speak. its better from the beginning to give him an advice before its too late. and i dont want him to experience what ive been through.

[ethereumhunter]

first, i will ask him how much he make invest on cloud mining and then i will suggest him to stop mining with cloud mining if he wants but i don't want to push him to follow my word, its up to him and i only can give him an advice that maybe he needed. but before i telling to stop, i will exlain some info to him, i will explain him what is cloud mining and everything that will be necessary he should know.

[Darwin02]

Let's one of your friend say he/she (for simple reference, I will just use 'he' throughout the thread) just know about Bitcoin. And he purchased some Bitcoin and invested some of it to cloud mining site. What will you say to him? Would it be nice for you to tell him to stop? Or let him learn online scam the hard way?

I convince him not to invest in any cloud mining sites and say to it why not try trading it's a little bit risky but if you have experience you will earn in it higher than you can make in cloud mining. And cloud mining not profitable at this moment.

[warwar]

I will stop him investing in cloud mining if he is my friend, i dont have to wait to lost his money before i speak. its better from the beginning to give him an advice before its too late. and i dont want him to experience what ive been through.

He already invested in a cloud mining site dude you cant stop your friend. But for me as my prediction now if he just invested on a one of the top cloud mining site now after halving i'll just say that he should just get his roi on that because right now it is very early that the cloud mining site will scam you .

[warwar]

I will stop him investing in cloud mining if he is my friend, i dont have to wait to lost his money before i speak. its better from the beginning to give him an advice before its too late. and i dont want him to experience what ive been through.

He already invested in a cloud mining site dude you cant stop your friend. But for me as my prediction now if he just invested on a one of the top cloud mining site now after halving i'll just say that he should just get his roi on that because right now it is very early that the cloud mining site will scam you .

[Jeremycoin]

Let's one of your friend say he/she (for simple reference, I will just use 'he' throughout the thread) just know about Bitcoin. And he purchased some Bitcoin and invested some of it to cloud mining site. What will you say to him? Would it be nice for you to tell him to stop? Or let him learn online scam the hard way?

I would probably suggest him to not make an investment directly before he really understood about it. And because he already did it, then there's nothing he can do much except if he still can cancel the investment.

[springgers]

Of course I would take the initiative and tell him more about it, That cloud mining is just a HYIP in another way, I would attempt to assess him getting a refund which is possible if the website is still running and stable, if I didn't tell him I'm sure it would impact his positive view regarding BTC.

[Schuyler]

It is his money to lose so I'm letting him charge it to his experience. If he learns a lesson or two after investing and eventually being scammed, maybe he would shy away from those stuff and just invest on proven ways and methods. But some people never learn, always being made to believe of high yield investments and promises.

[abayan]

Let's one of your friend say he/she (for simple reference, I will just use 'he' throughout the thread) just know about Bitcoin. And he purchased some Bitcoin and invested some of it to cloud mining site. What will you say to him? Would it be nice for you to tell him to stop? Or let him learn online scam the hard way?

I would probably suggest him to not make an investment directly before he really understood about it. And because he already did it, then there's nothing he can do much except if he still can cancel the investment.

Because he jusst invested in the cloud mining site then he should wait until the ROI and withdraw it immediately then roll the existing power and earn until the mining site turns into scam but i think now as my prediction they wont scam the mining investors because it is too early to scam them they wait until the price rises or if they are running almost a year? then that is the time

[equator]

Let's one of your friend say he/she (for simple reference, I will just use 'he' throughout the thread) just know about Bitcoin. And he purchased some Bitcoin and invested some of it to cloud mining site. What will you say to him? Would it be nice for you to tell him to stop? Or let him learn online scam the hard way?

I would probably suggest him to not make an investment directly before he really understood about it. And because he already did it, then there's nothing he can do much except if he still can cancel the investment.

Because he jusst invested in the cloud mining site then he should wait until the ROI and withdraw it immediately then roll the existing power and earn until the mining site turns into scam but i think now as my prediction they wont scam the mining investors because it is too early to scam them they wait until the price rises or if they are running almost a year? then that is the time

What you are telling is not good, If he has invested before itself in the cloud mining , then i think now he can do nothing but one thing he can do is keep autowithdrawl daily and just start to withdraw daily till the site goes scam, like this your invested will be secured as you are going to withdraw daily, if your luck is their then your invested bitcoin you will get it and after that what ever profit you get is your luck,

But dont try to reinvest what every you are getting in daily, that way you will lose whole invested bitcoin in that site.

[daneranon89]

Beforing saying all cloud mining sites are scam, I would ask him about the site. If its hashnest, genesis or even hashflare then I would try to explain to him the time required to break even and the risk involved. I would not encourage him to invest more  and would ask him to withdraw his payout daily and invest in some good ICOs or hold it as bitcoin and keep it as  along term investment and wait for gradual price appreciation.

I think all newbies to bitcoin make that mistake of investing into cloud mining sites at the start of their bitcoin journey only to understand later the opportunities missed or the bitcoin they lost to a scam.

[umaOuma]

If he has already invested in cloud mining then I can't really help him, but I would suggest him that if they pay him for the first time then that would be the right time to withdraw all the funds from it.

[CrimBit]

if my friend want to invest at cloud mining i will stop it, i will invite my friend to visit my mining rig, because building mining rig is best solution, is more profitable than invest at cloudmining.

[extrabyte]

Let's one of your friend say he/she (for simple reference, I will just use 'he' throughout the thread) just know about Bitcoin. And he purchased some Bitcoin and invested some of it to cloud mining site. What will you say to him? Would it be nice for you to tell him to stop? Or let him learn online scam the hard way?

this will be a bad thing for between him and bitcoin. lots of people are afraid with using bitcoin just because their first experience with bitcoin wasn't that much good (they almost got scammed or earned very less from faucets) and then they prefer to left bitcoin.
BTW. I will warn my friend and try to convince him that the whole bitcoin is not like that. so just leave cloudmining but don't leave bitcoin.